A Roxbury-based community group wants to start up a $10 million revolving loan fund to help homeowners facing foreclosure.

Nuestra Comunidad Development Corp. is seeking funds from foundations to restructure loans for subprime borrowers in neighborhoods where foreclosure activity is surging.

“We would be replacing the borrowers’ existing loans with a new loan from this fund,” said Lionel Romain, director of the group’s Homeownership Center.

The loan product, which would carry a 6 percent interest rate, would be open to anyone who has an unsustainable mortgage or borrowers who have missed mortgage payments because of an illness or other outside factor. Even borrowers who are current on the mortgages but fear they will fall behind in the future are eligible.

Loans would be made available to those earning up to 100 percent of the area median income. Unlike other mortgage products, the loans would not be restricted to borrowers with a minimum credit score. Many products require a 580 FICO score, according to Romain.

“What happens if you’re two or three months behind is that your FICO score is guaranteed to be below that,” said Romain. Most mortgage companies won’t help borrowers refinance unless they’ve already missed payments, he explained.

Foreclosure activity has ballooned in some Boston neighborhoods. Dorchester had 328 foreclosures through May, more than triple the amount of a year earlier, according to The Warren Group, parent company of Banker & Tradesman.

Roxbury had 55 foreclosures during that time, up 206 percent from the 18 foreclosures recorded a year ago. Statewide, there were 5,576 foreclosure from January through May, a 140 per-cent increase from the period in 2007.

Nuestra Comunidad hopes to close at least 32 loans. The CDC also wants to establish a $100,000 rescue loan fund to provide up to $3,000 to borrowers.